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ScottyMacEsq, Attorney
Category: Legal
Satisfied Customers: 16314
Experience:  Licensed Texas General Practice Attorney
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My wife got caught holding 8k on a jointly owned credit card.

Customer Question

my wife got caught holding 8k on a jointly owned credit card. Iam on disability and was exclude from the debt. The debt was accrued starting my shop. If she files a section 7 bankruptcy, c an my equipment be coinfiscated as she actually owns the debt on it. WEe'v e be en enst ranged over 3 years now.
Submitted: 2 years ago.
Category: Legal
Expert:  ScottyMacEsq replied 2 years ago.
Thank you for using JustAnswer.
I'm sorry to hear about your situation. It would be difficult to attach that property as she's not the custodian of it, and it's unlikely that there's a secured interest in the tools that secures repayment of the debt. It IS possible, but it's unlikely as it would need to be traced directly to the purchase of the assets and reasonably contemplated that bankruptcy may be filed. As such, it's unlikely that they would take the tools, especially if you're using them as part of your livelihood.
Hope that clears things up a bit. If you have any other questions, please let me know. If not, and you have not yet, please rate my answer AND press the "submit" button, if applicable. Please note that I don't get any credit for my answer unless and until you rate it a 3, 4, 5 (good or better). Thank you, ***** ***** luck to you!
Expert:  ScottyMacEsq replied 2 years ago.
Did you have any other questions before you rate this answer?
Expert:  ScottyMacEsq replied 2 years ago.
Are you there? Please note that I am still here, awaiting your response or rating... (please note that rating closes this question out, so if there's nothing else, please rate it so that I can assist other customers that are waiting for answers to their questions)